September 11 Commission Report - Gnostic Liberation Front

• Baltic American Enterprise Fund
• Bulgarian American Enterprise Fund
• Templeton Russia Fund
• BEA Associates Russia Fund
• Vladivostok Fund
• Scudder Stevens & Clark, Inc.
• Smith New Court PLC
The above list was part of the official privatization program which began in the spring of
1992:
“In May 1992, former Gorbachev economic adviser Grigoriy Yavlinskiy moved his think tank
"Epitsentr" to the region and himself spent 100 days there formulating a systematic plan for the
region's privatization program.” [Russian Defense Indusrty Conversion Investment Program, Dr. Pyotr
Johannevich van de Waal, Palms, Sovetnik Pravitelstva CWA, Tovarichestvo Palmsa, Inc. ]
The unofficial privatization program had begun much earlier. What is not generally
reported though generally understood in Russia is that the privatization of former state
owned property started long before the G7 meeting in 1992, and long before the official
western loans of 1992. Privatization started with the creation of the FPI on September
14, 1991 – 3 days after the Brady Bonds were reportedly issued.
“A former employee of FPI, speaking through clenched teeth, reported, "It [FPI] is not a well-known
organization, but it’s one of the most wealthy and most powerful organizations in Russia," and their
work was engineering commission-paying deals for money or privilege with the Kremlin, thereby
organizing a pipeline of tribute typical of corrupt regimes. "I can’t say it publicly, I can’t prove my
position with documents, but I know they were privatizing companies, the very best companies, before
we had a privatization program." [The Rape of Russia, Anne Williamson, testimony before the
Committee on Banking and Financial Services of the U.S. House of Representatives, presented Sept.
21, 1999]
The unofficial privatization program was seemingly orchestrated by the new oligarchs
under the guidance of the Riggs-Valmet consultants, controlled by Jonathon and George
HW Bush. (One would not want to overlook the significant role of Bruce Rappaport in
this major crime. Rappaport, former owner of the Bank of New York, working through
his Swiss-American Bank, had been a major financier of Bush’s Iran/Contra Deals, and
was now intimately connected to the Yeltsin family through Bank Menatep.)
Simultaneously, during September of 1991, the laws in Russia were changed by Yeltsin
to allow the immediate transfer of state resources to “foreign firms.”
“In September 1991, a foreign investment law promoting the transfer of capital, technology, and knowhow
went into effect. Nonresidents may acquire partial shareholdings or form wholly owned
subsidiaries in Russia. Foreign firms may obtain licenses to exploit natural resources. Foreign investors
can be exempted from import duties and export taxes, and there is limited relief from profits tax,
varying by sector and region.”
[http://www.nationsencyclopedia.com/Europe/Russia-Foreign-Investment.html]
In this privatization of Russia over the next several years, newly created banks were
provided with funding (credits) from a central source that had no visible means of
generating capital, and then loaned money to key industries, being taken over by the
THE SEPTEMBER 11 COMMISSION REPORT Page 222